Agrium Raises Dividend as Profit Exceeds Guidance

Dividend Rise Follows ValueAct Taking 5.7% Stake in Company

Agrium Inc. reported a third-quarter profit that was above its recent guidance, and raised its quarterly dividend by 4%.

The dividend increase comes after activist investor ValueAct Capital Management LP disclosed a 5.7% stake in the Calgary, Alberta-based company last month. Agrium said then that the hedge fund had no plans to push for the agribusiness’s breakup or for board or management changes and saw itself “as long-term...